Great Business Leaders Have These 6 Things in Common

Have you ever wondered what sets successful business leaders apart from the rest? While there's no one-size-fits-all answer, there are certain traits that many of the most successful leaders share. After working with some of the world's most successful leaders, I have learned that great business leaders are not born, they are made. Anyone has the potential to become one, but it takes hard work, dedication, and a willingness to learn. If you want to be a great business leader, take note of these six traits that all great leaders share.

1. They have a high level of self-awareness

Being a great business leader means more than just having ambition and drive. What makes someone truly stand out as a leader is their ability to recognize and understand their own emotions. In other words, leaders need to have a high level of self-awareness.

This quality is critical for many reasons. First, self-aware leaders are able to recognize when their emotions or impulses may be getting in the way of good decision making. For example, they may feel jealous or threatened by another business's success, but they are able to reflect on those feelings and step back from the situation.

Self-aware leaders also accept responsibility for their actions. They take an active role in constantly improving themselves. They know their strengths and weaknesses and don't blame others for their mistakes. They surround themselves with great people who can make up for their shortcomings. They are also confident that their strengths can help them reach any goal they set for themselves, even when things get tough or unexpected challenges arise.

Self-aware leaders know how their actions impact others, how others see them, and can therefore change their approach to be more effective. In short, being a great business leader takes much more than just wanting money or success. True leaders must also possess the wisdom and humility needed to develop as individuals and help others do the same.

2. They have a growth mindset

Great business leaders are the driving force behind any success story, and those with a growth mindset are often the most successful of all. A growth mindset focuses on the opportunities and possibilities for learning and growth. A fixed mindset, on the other hand, tends to view success and achievement as inherently limited or fixed.

In other words, a person with a growth mindset believes they have the power to change and improve, while someone with a fixed mindset may feel that success is determined by innate ability or other inherent traits that can't be acquired. A growth mindset is characterized by an attitude of openness and receptiveness, as well as a commitment to lifelong learning. Great leaders are great readers! People with this mindset understand that their skills can always be improved upon.

Great business leaders live by the maxim to be a better version of themselves every day. They're constantly seeking out new knowledge and skills that can help them better run their businesses. They understand that there's always room for growth and seeking out innovative ideas. Whether it's attending industry events, reading books, or taking courses, great leaders never stop learning. They know that it's essential for long-term success.

3. They are resilient and adaptable

In today's ever-changing business landscape, it's more important than ever for leaders to be resilient and adaptable. They don't give up when things get tough; instead, they find ways to overcome challenges and keep moving forward. They don't just bounce back, but bounce forward to success. This tenacity is what separates the best from the rest.

The best leaders are those who are able to change with the times and adapt their leadership style as needed. They are more resilient in the face of failure. They see setbacks as opportunities for improvement rather than signs of defeat. They are more curious and open minded and seek out new experiences to grow as individuals.

They also are willing to take risks when necessary and embrace change when it's beneficial for their business. They keep moving forward even if they encounter obstacles along the way. They always focus on coming up with a solution instead of dwelling on potential failures. They are calm in the face of pressure and adapt accordingly.

4. They are communicative

One of the most important things that a leader can do is communicate effectively. This means being able to articulate their vision for the future and sharing it with their team in a way that inspires them to take action. Great leaders know that communication isn't a one-time event; it's an ongoing process that requires constant effort. They make it a priority to keep their team updated on progress, changes, and challenges so everyone is always on the same page.

Leaders need to be able to communicate their vision clearly so everyone down to the lowest level understands the big picture. They also know how to give feedback constructively and listen attentively to feedback from others. They need to be able to listen to their team's input and ideas so that they can make the best decisions for the company.

Successful business leaders know how to communicate with those around them effectively. They're able to articulate their vision clearly and inspire others to buy into it. In addition, everyone at the business feels comfortable providing input and speaking up. They know they are being heard. This open communication creates a strong team that's aligned with the leader's vision. If you want to be a great leader, start by honing your communication skills.

5. They are decisive

One of the most important qualities of a great leader is decisiveness. In order for an organization to be successful, decisions need to be made quickly and efficiently. Great leaders are able to weigh all of the options and make informed decisions based on what they believe is best for the company. They're not afraid of making tough calls, even if it means facing criticism from others.

Leaders need to be able to make quick decisions in order to keep their company moving forward. When faced with difficult choices, the best leaders are those who are able to act decisively. They take the initiative to do what they believe is best for the company. They don't second-guess themselves or hem and haw over every little decision. But (this is a big but!) they are willing to change their decision once they get new data, information, or feedback.

You don't want to go down on a sinking ship just because of your stubbornness. By being decisive, leaders allow themselves to get immediate feedback from their decisions. They then learn from it and make decisive adjustments to achieve success. This helps them stay agile and adapt to change rapidly.

6. They hire a great team

A mentor told me you are the average of the five people closest to you. When you hire people smarter than yourself, then you will become smarter. Out of insecurity, some business leaders want to be the smartest person in the room so they don't hire the best. This is a recipe for failure. When it comes to building a successful team, great leaders know that it all starts with hiring the right people.

A great team consists of individuals who are highly skilled and passionate about what they do, and have a shared vision for success. They don't let their egos get in the way and care for everyone, not just themselves. That's why leaders must take their time when recruiting and choosing the right candidates to bring onto their team. Great leaders must be able to recognize how to best leverage the individual strengths of their team within the larger team dynamic.

Hiring the best team comes down to three things: find individuals who share your vision, have the right chemistry, and have the right strengths represented on your team. When it comes to identifying strong candidates for your team, look beyond their skill level. Focus instead on qualities like passion, motivation, and the ability to work in a team environment. Having the right interpersonal dynamics within your team can often mean the difference between success and failure.

Focus on traits that speak to an individual's commitment and drive. This will help you bring together a group of people who believe in what you are trying to achieve and are willing to work hard to make it happen. It's also important to find people with diverse perspectives and areas of expertise. This will help ensure that your team is well rounded and able to tackle any challenge that arises.

If you want to become a great business leader, there's no magic formula, but there are certain traits that all great leaders share. The best leaders are those who are self-aware, constantly learning and improving, resilient and adaptable, excellent communicators, decisive, and surround themselves with the right people. If you want to be a great business leader, start by modeling these behaviors in your own life, and you too can become a great leader!